French competition authorities approve Saturn's 34 acquisitiion

The acquisition of Metro Group-controlled Saturn’s 34 Saturn consumer electronics stores in France has been approved by the French competition authorities with conditions. The chain is to be sold to HTM Group, the operator of the Boulanger banner, and is due to take effect today.

HTM will take over existing staff, keeping all 34 stores operating and converting them gradually to the Boulanger banner after a transitional period of several months. Metro Group, which described the move as part of its “strategic portfolio optimisation”, did not reveal the value of the transaction.

Carrefour’s acquisition of 224 stores in Taiwan runs counter to recent strategic retreats from international markets of many once-global food retailers. International expansion remains a viable route to growth for food retailers, but only if the lessons of the past can be learned.